December 2011

Found 3 blog entries for December 2011.

 Despite the “doom and gloom” in today’s headlines, in the current economic climate, homeownership is more affordable than ever, thanks to low interest rates and lower home values. For those buyers who manage to have a 20% (or more) downpayment, they believe this will get them the lowest monthly mortgage payment. However, simply because buyers can afford to put down this amount does not necessarily mean they should.

Those buyers who have saved enough to put 20%—or more—down on the purchase of a home may want to consider another approach—preserving some of their cash for savings, investing or other purposes. It may sound counterintuitive, but with today’s interest rates and the competitive pricing of private mortgage insurance (MI), borrowers

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30-Year Fixed-Rate Mortgage Matches All-Time Record Low
, Monday, December 19, 2011— Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates at or near their all-time lows. The 30-year fixed matched the average all-time record low of 3.94 percent, and a new all-time record low was set for the 15-year fixed, both previously set in the October 6, 2011 Freddie Mac PMMS. The five-year ARM also set a new all-time record low at 2.86 percent for the week.

30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.8 point for the week ending December 15, 2011, down from the previous week when it averaged 3.99 percent. Last year
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